Photo - Antidolg
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Antidolg

Automatic legal service

Kazakhstan, Almaty
Market: Financial services
Stage of the project: Operating business

Date of last change: 12.03.2020
Rating
equalizer from 2000
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Idea

Social and legal service for the protection of the rights of  debtors. We are making contracts void; by now we have made more than 1100 contracts void

An automatic legal service based
on MN is acting as a cheap and effective lawyer.

The model that already works in
Kazakhstan has proven to be
effective, and has no lawyers
actually being engaged at all.

Online lending companies
violate civil law by putting an extreme interest rate

Current Status

We are making contracts void; by now we have made more than 1100 contracts void An automatic legal service based
The model that already works in
Online lending companies

on MN is acting as a cheap and effective lawyer.
Kazakhstan has proven to be effective, and has no lawyers actually being engaged at all.
violate civil law by putting an extreme interest rate

Market

Over 2 million online loans were issued in  Kazakhstan, that amoutned more then 400 billion tenge. According to the First Credit Bureau, only in 2018 the amount of loans issued by  companies online-lending amounted to 87  billion tenge.

Problem or Opportunity

Interest rate is extremely high and mostly illegal Borrowers receive threats from collectors Borrowers' credit history is wasted Borrowers can’t restructure loans Borrowers don’t know their rights and can’t get any legal service Borrowers are getting a new loan and get in an even worse condition

By lending with such a great interest rate Online lending companies already assume at the beginning that at least 40% to 50% of the money they lend will be non-refundabl, so they have an enormous non-collectible part of their loans on their balance sheet.

Solution (product or service)

An automatic legal service based on NN and Big data and Mediation platform

An automatic legal service based on MN is acting as a cheap and effective lawyer

+

Mediation reduces interest rate to the mutually agreed between online lending company and the borrower. It will be 10 times less.
Mediation helps online lending companies to collect the frozen debt, that can reach up to 50% out of the overall they lend

Competitors

There are a lot of lawyers that are indirect competitors, but they are using proper lawyers to suit someone, while we have no lawyers engaged at all

Advantages or differentiators

There are a lot of lawyers that are indirect competitors, but they are using proper lawyers to suit someone, while we have no lawyers engaged at all

Finance

20-25% out of the Debt deduccted

Business model

We are providing cheap and affordable legal service by making letigation process automatic through MN

Money will be spent on

As far as business has proven to be sustainable for the last year and a half - we are fundraising money for company scaling

Team or Management

Risks

Change in policies - we will have to adopt to relevant policies

Incubation/Acceleration programs accomplishment

Astana Hub acceleration programm

Won the competition and other awards

Astana Hub Competition
4,50
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video